Indifi Tech says its online small business loans grew 200% year over year
MSME lending platform Indifi Technologies announced on Wednesday that it had seen 200 percent annual growth in loan amount disbursed through partner lenders in December 2021.
Indifi said it saw 100 percent growth in the number of loans disbursed from December 2020 to December 2021.
During this period, Indifi also doubled its lending partners and has demonstrated the highest collection efficiency in the last 12 months, the highest in the company’s history. To maintain this growth momentum, Indifi aims to grow its lender partnership-led business by more than 100 percent in 2022 and onboards at least three new lending partners itself in Q1 22, including a renowned private bank and public sector banks.
The company said in a statement that the recorded growth was due to several factors, such as: B. the ecosystem-based approach to lending he created, which allows him to create synergies between demand and supply partners.
Indifi leverages partnerships with leading technology aggregators such as Zomato, Amazon, Swiggy, Facebook, etc. to enable embedded lending solutions for the underserved but creditworthy small business owners registered on their platform. This allows lenders on Indifi’s platform to integrate once and gain access to over 50 small business ecosystems.
“As a platform, we seek to bridge the gap between historically underserved MSMEs and lenders. Through partnerships on both the demand and supply sides of the credit spectrum, we are able to leverage lenders’ low-cost capital as well as leverage technology and MSME data in ecosystem platforms to break down the MSME lending barriers. It is this digital-first and data-driven strategy that has helped unlock these growth numbers despite the ongoing pandemic,” said Siddharth Mahanot, co-founder and COO of Indifi Technologies.